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New York Sun: As dollar diminishes, why shouldn't gold be audited?

Section: Daily Dispatches

The Gold Audit

From The New York Sun
Tuesday, August 31, 2010

Congressman Ron Paul is in the news again, this time for calling for an audit of America's gold reserves. He issued the call in an interview with a news service run by a gold dealer, Kitco News, which reported that the congressman intends to introduce legislation calling for such an audit of what we hold at Fort Knox and other sites, such as the New York Federal Reserve Bank in lower Manhattan. It's the kind of thing people tend to laugh at, the way they once did when Doctor Paul launched his legislative campaign to audit the U.S. Federal Reserve. Yet after years of persistence by the Texas Republican, Congress finally passed a law requiring an audit of the Fed. It passed the mandate by a wide margin and a bi-partisan vote. So whatever snickering there will be over Paul's proposal for an audit of the gold holdings, it will be more muted.

... For the full commentary: ...

http://www.nysun.com/editorials/the-gold-audit/87065/



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Sona Resources Expects Positive Cash Flow from Blackdome,
Plans Aggressive Exploration of Elizabeth Gold Property

On May 18, 2010, Sona Resources Corp. (TSXV: SYS, Frankfurt: QS7) announced the release of a preliminary economic assessment for gold production at its flagship Blackdome and Elizabeth properties in British Columbia.

Sona Executive Chairman Nick Ferris says: "We view this as a baseline scenario for gold production. The project is highly sensitive to the price of gold. A conservative valuation of gold at $1,093 per ounce would result in a pre-tax cash flow of $54 million. The assessment indicates that underground mining at the two sites would recover 183,600 ounces of gold and 62,500 ounces of silver. Permitting and infrastructure are already in place for processing ore at the Blackdome mill, with a 200-tonne per day throughput over an eight-year mine life. Our near-term goal is to continue aggressive exploration at Elizabeth and develop a million-plus-ounce gold resource, commencing production in 2013."

For complete information on Sona Resources Corp. please visit: www.SonaResources.com

A Canadian gold opportunity ready for growth



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Prophecy to Become Coal Producer This Year
with 1.5 Billion Tonnes of Resource

Prophecy Resource Corp. (TSX.V: PCY) announced on May 11 that it has entered into a mine services agreement with Leighton Asia Ltd. to begin coal production this year. Production will begin with a 250,000-tonne starter pit as planned in August, with production advancing to 2 million tonnes per year in 2011. Prophecy is fully funded to production and its management team includes John Morganti, Arnold Armstrong, and Rob McEwen.

For Prophecy's complete press release about its production plans, please visit:

http://www.prophecyresource.com/news_2010_may11.php